Facebook lifts S&P 500 and Nasdaq as Treasury yields pause

By Noel Randewich (Reuters) – The S&P 500 and Nasdaq rose on Friday, lifted by Facebook and energy shares as U.S. Treasury yields took a break from a recent surge. Reversing a recent trend, so-called growth stocks mostly outperformed value stocks viewed as more likely to outperform as the economy recovers from the coronavirus pandemic. The yield on U.S. 10-year notes, which has risen sharply in the past seven weeks on growth expectations, hovered near a 14-month peak at $1.742%. [US/] “What we see today is a more stable rate environment across the curve after multiple weeks of rising interest …

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